# Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (Text with EEA relevance), Division 16: The administrator of a commodity benchmark shall have in place and publish a complaints handling policy setting out procedures for receiving, investigating and retaining records concerning complaints made about an administrator's calculation process. Such complaint mechanisms shall ensure that:

Extent: E+W+S+N.I.

(a) subscribers of the benchmark may submit complaints on whether a specific benchmark calculation is representative of market value, proposed benchmark calculation changes, applications of methodology in relation to a specific benchmark calculation and other editorial decisions in relation to the benchmark calculation processes;
(b) there is in place a target timetable for the handling of complaints;
(c) formal complaints made against the administrator and its personnel are investigated by that administrator in a timely and fair manner;
(d) the inquiry is conducted independently of any personnel who may be involved in the subject of the complaint;
(e) the administrator aims to complete its investigation promptly;
(f) the administrator advises the complainant and any other relevant parties of the outcome of the investigation in writing and within a reasonable period;
(g) there is recourse to an independent third party appointed by the administrator. if a complainant is dissatisfied with the way a complaint has been handled by the relevant administrator or the administrator's decision in the situation no later than six months from the time of the original complaint; and
(h) all documents relating to a complaint, including those submitted by the complainant as well as an administrator's own record, are retained for a minimum of five years.

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Source: https://www.legislation.gov.uk/eur/2016/1011/annex/II/division/8/division/16 (the official version)
Page: https://openlegislation.uk/eu-regulation-2016-1011/annex-II/division-8/division-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.